Chegg Inc (CHGG) concluded trading on Thursady at a closing price of $8.76, with 2.98 million shares of worth about $26.14 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -10.06% during that period and on Thursady the price saw a gain of about 0.46%. Currently the company’s common shares owned by public are about 102.82M shares, out of which, 99.36M shares are available for trading.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 75 times over the past 12 months. They bought 791,053 shares in 20 of the transactions. In 55 selling transactions, insiders dumped 182,539 shares.
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However, the stock later moved at a day high price of 8.90, or with a gain of 0.46%. Stock saw a price change of -3.20% in past 5 days and over the past one month there was a price change of -12.49%. Year-to-date (YTD), CHGG shares are showing a performance of -22.89% which decreased to -44.06% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $7.32 but also hit the highest price of $18.77 during that period. The average intraday trading volume for Chegg Inc shares is 2.72 million. The stock is currently trading -5.83% below its 20-day simple moving average (SMA20), while that difference is down -14.31% for SMA50 and it goes to -9.28% lower than SMA200.
Chegg Inc (NYSE: CHGG) currently have 102.82M outstanding shares and institutions hold larger chunk of about 97.49% of that.
The stock has a current market capitalization of $901.84M and its 3Y-monthly beta is at 1.30. It has posted earnings per share of -$0.37 in the same period. It has Quick Ratio of 0.80 while making debt-to-equity ratio of 0.65. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CHGG, volatility over the week remained 3.28% while standing at 4.18% over the month.
Analysts are in expectations that Chegg Inc (CHGG) stock would likely to be making an EPS of $0.24 in the current quarter, while forecast for next quarter EPS is $0.28 and it is $1.15 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.2 which is $0.28 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.27 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 2.20% while it is estimated to increase by 2.08% in next year. EPS is likely to grow at an annualized rate of 20.00% for next 5-years, compared to annual growth of -20.81% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Piper Sandler on February 06, 2024 offering an Underweight rating for the stock and assigned a target price range of between $9 and $8.50 to it. Coverage by Goldman stated Chegg Inc (CHGG) stock as a Sell in their note to investors on January 19, 2024, suggesting a price target of $8 for the stock. On November 20, 2023, Morgan Stanley Downgrade their recommendations, while on May 02, 2023, Jefferies Downgrade their ratings for the stock with a price target of $11. Stock get a Mkt perform rating from Barrington Research on May 02, 2023.
